commissioner.org
| Source | Tom Walker |
| Date | 02/01/16/17:12 |
| More cullings:
The genius of capitalism is that markets, not regulations or politics, force the admission and correction of mistakes. The genius of capitalism is that suppliers have to both compete and also to collaborate to survive and that in the end they get their money from satisfied customers or not at all,so the marketplace may work for the public even though the standards committees fail. Pollution problems could be solved by the genius of capitalism. With capitalism in trouble, the fascist demagogues will need scapegoats, and the myths and legends of the Jews as the evil genius of capitalism are too tempting and too well established and elaborated to be dispensed with; anti-black racism has limited uses. The genius of capitalism - the wage-contract - means that capital never has to notice that there's a person and not just a worker on the other end of the contract - even if the worker has body piercings. The "genius" of capitalism was in its giving outlet to human creativity to deal with the prevailing circumstances without the burden of the past. A society that relies merely on legally coercive contracts and consumer carrots rather than a range of covenantal trust relationships in voluntary associations incurs increasing legal costs for enforcement and undermines the very freedom that is the genius of capitalism. Indeed, the primary genius of capitalism is not its miraculous powers to make things work; it is what Joseph Schumpeter called "creative destruction," i.e. the ability to drive out firms that cannot compete. The genius of capitalism is that it allows people to oppress themselves Although the genius of capitalism is indeed production, the genius of socialism is indeed distribution. |
Copyright (c) 1998, Joongpil Cho